Form 8938 - Foreign Reporting Trap for the Unwary

Form 8938 - Foreign Reporting Trap for the Unwary

Beginning with the 2011 tax year (i.e., for returns filed April 17, 2012 or later), individual taxpayers will be required to file Form 8938 if he or she has an interest in a “specified foreign financial asset” (“SFFA”) that has a value exceeding a certain threshold. A...

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